Shares of Micron pop 14% on earnings beat driven by AI boom
Publishing timestamp: 2024-03-20 16:47:45
Summary
Micron's earnings beat analysts' expectations, with revenue rising to $5.82 billion and net income of $793 million. The company's shares rose more than 14% in extended trading after announcing strong results and offering positive guidance for the future, citing benefits from the artificial intelligence boom. CEO Sanjay Mehrotra highlighted Micron's position as a major beneficiary in the semiconductor industry.
Sentiment: POSITIVE
Keywords: business news, nvidia corp, enterprise, sanjay mehrotra, micron technology inc, internet, technology, earnings, breaking news: technology,